2009.05.28 – North Korea is ready for war. After testing its ground-air short-range missiles (five since Monday), officials announced that, to respond to the fact that Seoul joined PSI (Proliferation Security Initiative), they would no longer be bound to the armistice agreement signed in 1953, conducting to an official state of War between the two countries. Any attempts (including inspections and crackdowns) to inspect their ships will conduct North Korean Army to react.

2009.05.28 – All the countries are condemning the tests made by North Korea. Discussions have debuted on Tuesday for a Security Council resolution which will include new sanctions against North Korea. The meeting is gathering the 5 permanent veto-wielding countries (France, USA, Russia, China and Britain) with South Korea and Japan, most concerned countries near North Korea. The International Community is waiting a reaction from Russia and China.

2009.05.28 – South Korea is the only country in the OECD to have a GDP growth in the first quarter. After a 5.1% contraction in the last quarter of last year, the year began with a growth of +0.1%, escaping a technical recession. In average, GDP of OECD members contracted by 2.1% compared to last quarter, the largest decline since 1960 (France is ranking second with only 1.2% contraction).

2009.05.28 – The US economist Nouriel Roubini, basing its work on macroeconomics indicators, said yesterday that South Korea Economy should grow more than the prospects made by the IMF at 1.5%. Nevertheless, it will be difficult to achieve the 4% announced by the government. Asian Economies should, according to Mr. Roubini, recover faster than other advanced economies.

2009.05.28 – Briefly: Park Ji-Sung (Manchester United) played 55mn yesterday for the Champions League Finale (lost 2-0 against FC Barcelona), becoming the first Asian player in the football history to play a European finale; South Korea will held from May 31st to June 1st a summit gathering ASEAN and Korean CEOs; Regarding the last elements given by the police, former President Roh asked its bodyguard to leave him for 30mn before he committed suicide; KT Corp. and Hyundai Motor made a partnership allowing new users of QOOK services (TV and Internet) to be provided with a $320 discount on a new Hyundai car from June 1st to May 31st 2011.

2009.05.27 – More than $19.4 billion will be invested by the government in the 17 new growth engines and renewable energies in the next five years. During the “New Growth Engines Exhibition” at Kintex yesterday, the 17 growth engines have been analyzed and detailed, giving finally 200 missions. Government decided to encourage the development of 700,000 key workforces and create 300 global SMEs.

2009.05.27 – Defense Ministry of USA, Japan and Korea will meet during a trilateral meeting organized in Singapore for a regional conference. The opportunity for this first meeting between this three parts to discuss the urgent case of North Korea. Obama called yesterday Presidents of Japan and Korea to receive their analysis of the situation, after NK made a nuke test.

2009.05.27 – Growth of online commerce slowed to a low-record (indicator created in 2001) during the first quarter with only +7.1% representing $119.4 billion. B2B transactions dropped by 0.8% while Business-to-government transactions exploded to +152.4%. B2C transactions conducted by online shopping mall had a slow growth of 5.9% to $253 million (-1.8% compared to last quarter).

2009.05.27 – South Korean companies’ investments in Asia halved due to the global economic crisis. Korea had the most decrease in the 4th quarter of 2008, while China looked at new investments in ASEAN area and Japan had a quick rebound after a bad 3rd quarter. The KOTRA indicated that Korean investments in Vietnam, Cambodia, Philippines and Indonesia were interesting.

2009.05.27 – Briefly: Seoul City opened the « Cafe Pine Tree” near the Seoul Museum of Art, a cafe where people speak only in English; Tami Overby, CEO of Amcham (American Chamber of Commerce), is leaving Korea after 21 years in the peninsula; Consumer sentiment index reached a high since two year with 105 in may compared to 98 last month, indicated the Bank of Korea; Tonight, Koreans will watch European Champion’s League Final with Park Ji-Sung (Manchester United) against FC Barcelona (8:45pm in France, 3:45am in Korea).

2009.05.26 – North Korea once again made reacting international community by realizing an underground new nuke test yesterday, 20 times more powerful than the last test in October 2006. According to US and South Korea, the test has been made near Gimchaek, 375km northeast from Pyongyang, 10km under ground, provoking a 4.4 to 4.7 magnitude earthquake. The same day, 3 ground-to-air short-range missiles have been tested in the same area, in Musudan-ri. Countries all over the world made a common condemnation of these tests.

2009.05.26 – Funeral of former President Roh Moo-Hyun, who died on Saturday May 23rd, should take place this Friday May 29th at 11am in the Joseon palace of Gyeongbukgung, in the heart of Seoul. Officials are still waiting to give a final decision as Gyeongbukgung is still under renovation. Roh is the second former President to receive 7-days public funerals after Choi Kyu-Ha who died in 2006. President Lee Myung-Bal should go to Bongha village before the ceremony.

2009.05.26 – Experts said that the former President Roh Moo-Hyun suicide could make copycat suicides phenomena (as it often happened in South Korea). The day after Roh died, a 38-years-old man jumped from a mountain near the Owl’s Rock in Bongha, saved in extremis after he called the police. Another 55-years-old man called the police to announce that he was going to commit suicide, saved after police located his phone call.

2009.05.26 – More than 200 executives left 5 biggest South-Korean groups (Posco, Samsung Electronics, LG Electronics, Hyundai Heavy Industries and Hyundai Motors) since October 2008. This wave shows how groups plan to reduce costs in economic turmoil period.

2009.05.26 – Briefly: IMF analysis reported that unemployment rate growth in the 33 most advanced economies would be the lower in South Korea with +0.6% to 3.8% in 2009 (France should be at 9.6%); Park Ji-Sung will be the first Asian player to attend a Champion’s League Final on Wednesday night with Manchester United against FC Barcelona; Despite government efforts, birthrate in South Korea has declined for the 13th consecutively month to 39.900 births, a decrease of 3.4%; The Ministry of Land, Transport and Maritime Affairs announced that land prices increased for the first time since the last six months of +0.6%.

2009.05.25 – South Korea former president Roh Moo-Hyun committed suicide on Saturday, May 23rd, at 6:45am after jumping from the Bonghwa mountain (South-East of Korea, near Gimhae), from the Owl’s Rock (45m high) during a morning stroll with his bodyguard. Before he committed suicide, he wrote a short note on his home computer explaining his decision and apologizing for people who have suffered because of him. All prosecutions for corruption that were in progress have been suspended and his elder brother Roh Gun-Pyeong that was in prison was released in the day.

2009.05.25 – The Korea Herald released in its Monday’s edition an article on the causes of Roh’s death, presenting closer ties with French former Prime Minister Pierre Bérégovoy who committed suicide five weeks after losing parliamentary election in 1993 and who was under investigation over allegations he received a 1 million franc loan.

2009.05.25 – European Union and South Korea could sign the FTA before the end of June after President Lee Myung-Bak met this week-end in Seoul the 6-months EU President Vaclav Klaus and EU Commission President Jose Manuel Barroso. The signature could be made in Paris, but a clause remains uncertain, clause reporting that Korean manufacturers could be integrally reimbursed of duties paid for parts purchased in China, if these parts are used in vehicles for the European market.

2009.05.25 – 50,000 wons bill, which will be the most expensive bill, are in printing process. This new banknote will debut on June 23rd announced the Bank of Korea and will be more convenient than bundle of 10,000 wons and will reduce the costs of bank checks. In the same way, the BoK wishes to reduce the use of credit cards.

2009.05.25 – Briefly: Eleven more people were confirmed to be infected with H1N1, a total of 21 people in South Korea; Foreign Minister Yu Myung-Hwan will attend this week the ASEM (asia-Europe Meeting) which will be held in Vietnam to discuss about North Korea and global financial crisis; Renault Samsung Motors announced that its QM5 (named Koleos abroad) is sent to China; Hana Financial and SK Telecom are discussing about a cooperation through a joint-venture which would be able to launch credit card from August.

2009.05.22 – South Korea is going to export its R&D to countries in development after a 5-year contract signed between the Korea Institute of Science and Technology Evaluation and Planning (KISTEP) and the International Science, Technology and Innovation Center (ISTIC) located in Malaysia to export R&D techniques.

2009.05.22 – To reduce costs, telecom companies wish to reduce wages. KT Corp. already talked with Labor Union about a 5% reduction of wages. In the same time, middle management of SK Broadband voluntarily chose to reduce by 5% their wages to help the company.

2009.05.22 – Whereas the advertising market is decreasing with the recession, online advertising banner are still increasing (about 9.6% year-on-year) in South Korea, USA, China and Japan, indicated a report of KISDI (Korea Information Society Development Institute). This new market becomes the third largest medium one after TV and newspaper. For 2009, experts plans on +14.6%.

2009.05.22 – South Korea still have a trade surplus in May (until the 20th) with imports dropping faster than exports. Surplus is of $1.42 billion, far from the deficit of $4.63 billion last year. Exports decreased by 22.4% to $16.01 billion while imports dropped by 42.2% to $14.59 billion.

2009.05.22 – Briefly: The 7th Import Goods Fair began in COEX gathering 200 companies from about 50 countries; SKT signed a consultation contract of $4.38 million with UAE which will invest $2.18 million on Wibro-related projects; Government will invest $12 million to promote R&D in the digital broadcasting sector; The Supreme Court of South Korea authorized a sick woman to die with dignity by taking off her survival apparels.

2009.05.21 – The IMD World Competitiveness Yearbook 2009 (Swiss) revealed that South Korea won 4 places compared to last year, reaching the 27th rank among 57 countries. The Ministry of Strategy and Finance said it was a great ranking, but Korea rank 10th among the Asian countries. France ranks 28th, losing 3 places.

2009.05.21 – For the 13th quarter consecutively (more than 3 year), Samsung Electronics remains the leader on TVs global market. In the first quarter 2009, the group had 21.5% of market share (revenue in dollars). LG Electronics regained the second place with 13.3% (lost since the second quarter 2007) and Sony lost one place to 13.1%.

2009.05.21 – Korean Air began to serve France Champagne Laurent-Perrier for its international flights, for business- and first-class passengers. Cho Hyun-Ha indicated that Korean Air wishes to improve its service on-board. The first-class passengers can drink Grand Siecle, champagne proposed on France presidential flights.

2009.05.21 – Despite complication in the inter-Korean relations and the recent announcement of non-validity of contract for the Kaesong complex, North-Korean workers continue to produce consumers goods for South Korea companies which paid worker’s wage like in the before.

2009.05.21 – Briefly: The Songdo Free Economic Zone began yesterday work to build the new Songdo Global University Campus (SGUC) which will be home for 6 US schools; Worldwide sales of mobile phone dropped by 9.4%, Nokia loosing market shares while Samsung and LG gained; KT, since its merger with KTF, decided to reorganize the executive members with one chairman and four presidents; South Korean SMEs specialized on IT show great interest to European market as 44 companies came to the “Korea Premium Tech Plaza EU 2009” in Germany.

2009.05.20 – LG Display released the world’s thinnest LCD TV panels with only 5.9mm thickness (less than a quarter of a 500 won coin), using LED. This panel available through 42-inch and 47-inch TVs is thinner than the LED TV launched by Samsung Electronics in January (6.5mm). LG Group CEO Koo Bon-Moo, who can be proud of the net profit announced yesterday of 400 billion won only in April, indicated that design will be the key to sustained growth in the face of a global crisis.

2009.05.20 – The C40 Large Cities Climate Summit which is being held in Seoul gathered yesterday former US President Bill Clinton, Prime Minister Han Seung-Soo and Mayor of Seoul Oh Se-Hoon to discuss and exchange with mayors and officials of 80 cities from 41 countries on the climate change and the coming trends for the planet.

2009.05.20 – Number of self-employed dropped by 4.5% compared to last year, indicated the Ministry of Strategy and Finance, reaching only 5.8 million in April, marketing the deepest decline ever. The curve is dropping since May 2006 and felt below the 6 million last December.

2009.05.20 – North Korea’s International Trade (excluding South Korea) in 2008 reached the highest record since 1990. Exports rose by 23% to $1.13 billion and imports increased by 32.7% to $2.69 billion, announced the Korea Business Center, branch of Kotra.

2009.05.20 – Briefly: Loans to industry climbed in the Q1 by $11.2 billion (+2.6%) compared to last quarter; Lotte confectionary sold almost $8.83 billion of Xylitol Chewing-gum since its launch 10 years ago, shortly representing 48 million Koreans who ate 64 packets of gum since 2000; Korea Transport Institute announced that Korea should invest $75 billion to develop its transport networks in the next 5 years; New 50,000 won note will be available from the end of June 2009.

2009.05.19 – Professor Seo Sang-Heui from Chungnam University announced that he developed the first vaccine in the world against Swine Flu, non-toxic and able to be produce in mass at low cost. This vaccine could be available in September.

2009.05.19 – On Saturday May 23rd in Seoul, a unique summit between President Lee Myung-Bak and Czech President Vaclav Klaus, almost EU President, will be held to discuss about the finalization of negotiations for a Free Trade Agreement. This EU-Korea Summit will be held in the presence of European Commission President Jose Manuel Barroso and the two parts will also exchange on North Korea, economic crisis and energy cooperation.

2009.05.19 – Although Wine is fashionable in Korea, price are still expensive, which prompted Shinsegae Department Store to create its own import arm named Shinsegae L&B. Wines imported through this new branch are already on the market and Shinsegae can offer wines 40% cheaper than other department stores.

2009.05.19 – KT Corp. and Etri (Electronics and Telecommunications Research Institute) signed a Memorandum of Understanding to diversify their cooperation into broadcasting-telecommunications convergence and software development. Activities related to convergence will be the basis of this agreement between the two organizations.

2009.05.19 – Briefly: For the first time, the French musical “Romeo & Juliet” will be adapted in a foreign language (Korean) with actors Im Tae-Kyung, Shin Sung-Rok and Kim So-Hyun; Renault Samsung Motors launched mass-production of its New-SM3 which will be available on the market for the second half; Seoul Climate Change Expo began yesterday for 4 days with the C40 Large Cities Climate Summit which gathers delegations of mayors and officials from 80 cities among 41 countries; Strategy and Finance Ministry will create a Cyber Security Center for economic and financial agencies.

2009.05.18 – Park Chan-Wook (Thirst) and Bong Joon-Ho (Mother) climbed the stairs for the Cannes Festival this weekend. Bong Joon-Ho’s film received a standing-ovation in presence of Park Chan-Wook and jury’s member Lee Chang-Dong. Thirst, which had various critics after diffusion, already sold 10 copies to foreign countries (including France), including 3 during the festival.

2009.05.18 – The French-Korean Chamber of Commerce and Industry will held for the first time, on Thursday the 21st, a meeting between French companies established in Korea and French Students in an exchange program in Korean Universities. Organized as an informal cocktail, this evening will be the opportunity for companies to discuss with French specialized on Asian countries and for students to learn more about French-Korean cooperation.

2009.05.18 – Hyundai and Kia announced that they will accelerate their cooperation by sharing automotive platform to cut off R&D costs and increase competitiveness on their market. Six platforms for all vehicles will be created by the two carmakers by 2012.

2009.05.18 – North Korea indicated last Friday that all contracts signed with South Korea related to Industrial complex of Kaesong will be from now invalid, threatening South to close the door of this complex if the negotiations are not more sincere.

2009.05.18 – Briefly: Park Ji-Sung won for the thirds time consecutively the English Premier League title with Manchester United. His compatriot Park Chu-Young scored for the fifth time with Monaco during the weekend; Kim Taek-Jin became the first Korean software self-made billionaire by running NCSoft Corporation; Didier Chenneveau, LG Electronics Chief supply chain officer, announced that $320 million will be saved next year due to a new supply chain management system; Vice Foreign Minister announced that they were expected to sign more FTAs with Asia-Pacific countries.

2009.05.15 – The Bank of Korea announced that South Korea ranked 14th end of 2007 in the world’s largest economy. With a GNP of $969.8 billion, it is the same ranking as the previous year. According to the situation of crisis, Korea should slip 15th in 2008 and 16th this year.

2009.05.15 – GNP growth forecasts made by Korea Development Institute (KDI) show that economy recovery will be in a v-shape, from 2.2% in 2008, the GNP should be -4.3% (Q1), -4.1% (Q2), -3.4% (Q3) and +2.7% (Q4) to reach a +3.7% growth next year.

2009.05.15 – Seoul metropolitan government presented yesterday its Bicycle Lanes’ plan which will by 2014 link capital’s key spots. A 88km-belt around the city center will be established by 2014, along with 207km of lanes announced late October and planned for 2012. This new objective entered the Green Growth plan and the president’s wish of making Korea one of the three biggest bike exporters in the next five years.

2009.05.15 – North Korea announced that it will try the two American journalists, Laura Ling and Euna Lee, who were detained on March 17th at the North border. The trial will be held on June the 4th, indicated the Central Court.

2009.05.15 – Briefly: Hyatt Hotel in Incheon will held tonight a wine-tasting dinner on “three castles three chefs” with Bordeaux wines; The Cannes festival began with the first red carpet which have seen Movie Director Lee Chang-Dong with the Jury; A large part of Korean consider Canadian beef as unsafe; Hyundai Motor denies the report recently published which announced that General Motor would sell some brands to the Korean carmaker.

2009.05.14 – Korean government announced that it will invest around $3.4 billion by 2013 in Information technologies regarding the Green Growth plan. President of Green Growth committee also indicated that $6.8 billion will be invested by 2012 to promote and develop new energy.

2009.05.14 – French-Korean group Samsung Thales is set up to win a contract of $120 million to supply cutting-edge automated combat systems for the first nation’s 3,000-ton attack submarine, the KSS-III, which will be deployed by 2020, indicated the Agency for Defense Development.

2009.05.14 – South Korea lost 188,000 jobs last April, first rebound since August 2008 when the peninsula had almost 159,000 new job creations. March represented the biggest loss with 195,000 job losses.

2009.05.14 – The royal tomb of Joseon Kingdom (1392-1910, including 27 generations of Joseon kings and queens) was nominated for the prestigious World Heritage Sites’ list by Unesco. The final decision will be given during the 33rd session of the UNESCO Committee in late June in Seville.

2009.05.14 – Briefly: From September, overseas Koreans will have access to online registration on state-run organizations’ website with a new identification system, the I-PIN; Exports of automotive parts dropped for the 6th consecutive month in April, -36.2% ($839 million) compared to last year; While the International Book Fair in Seoul opened its doors yesterday, the Nobel prize writer Le Clezio said that Korea would (probably) soon win a Nobel Prize for literature, praising the quality of writers; Ssangyong Motor announced net loss record of $214.9 million for the first semester.

2009.05.13 – While Hyundai and Kia have seen their sales decreased compared to the previous month, Daewoo, Ssangyong and Renault Samsung have each sold more vehicles, respectively +20%, +13.4% and +1.5%.

2009.05.13 – Nokia (world leader on phone market) which is back to Korea since last month has seen its sales at a very low level. Since it launched its smart-phone 6210s, only 2,500 units have been sold, as this phone did not match the consumer requests.

2009.05.13 – While the Bank of Korea froze for the third consecutive month its interest rate to 2%, its chairman Lee Seong-Tae said that the Korean recession would be long and deep, corresponding to a u-shape curve.

2009.05.13 – Hyundai Motors launched a marketing campaign VVIP (Very important) to present its customers its premium products such as Genesis and Equus. To do so, 50 top-customers around the world were invited to talk about their "Korean experience".

2009.05.13 – Briefly: The Korea Herald publishes today a one-page article by Philippe Thiébaud, Ambassador for France to Korea, on the green cooperation between France and South Korea; Despite the fact that the majority of European capitals are favorable, the Free Trade Agreement will once again not been signed May 23 in Seoul for the EU-Korea summit; South Korea wants to launch fighter aircraft KF-X “Semi-Stealth” after 2018; The average number of vehicles circulating in 2008 in Korea has declined by 2%, from 12 373 to 12 125.

2009.05.12 – Global Investments Bank Morgan Stanley reviewed its 2009 forecasts for the Korean economy from -2.8% to -1.8% according to the competitiveness of local exporters and government measures.

2009.05.12 – Experts indicated that bankruptcy was inevitable for General Motors, a worrying analysis for the American carmaker and its subsidiary GM Daewoo in South Korea.

2009.05.12 – Market shares of products made in Korea and sold in China (10.5% in 2009 against 9.9% in 2008) and in USA (2.8% in 2009 against 2.3% in 2008) are increasing while those of Japan decreased continuously since 2006.

2009.05.12 – Internet services like IPTV and high speed Internet 100Mb/s are reorienting their activity among new markets like individual houses and multi-familial residence which are mostly connected by digital subscriber loop and hybrid fiber coaxial nterworks.

2009.05.12 – Briefly: South Korea and European Union entered the final part of the FTA Negotiations indicated Ministry of Trade Kim Jong-Hoon; Makgeolli, traditional Korean alcohol, became very popular that made industry experts creating a new various fruit flavors generation; Centum city branch of department stores Shinsegae will challenge to the Guinness World Records as the world biggest Department Store in the world; President Lee Myung-Bak is visiting Central Asia to improve the relation between South Korea and these countries.

2009.05.11 – With the sharp rise of exports (weak local currency) and drop of imports (slow down of local demand), South Korea should have a current account surplus of $20.7 billion in 2009 (deficit of $6.7 billion in 2008), indicated the IMF. South Korea should then rank 8th among the 33 most advanced countries.

2009.05.11 – From May 13th to 24th, a total of 10 films will be presented during the Cannes Festival. It is the highest number of South Korea Movies ever to be selected at Cannes. Last Park Chan-Wook film “Thirst” will be in the official competition and Bong Joon-Ho’s “Mother” is in the category Un Certain Regard.

2009.05.11 – Despite tense situation, South Korea wishes to continue discussions with North Korea. A proposal for a second meeting in the upcoming days should be sent today to arrange a second inter-meeting.

2009.05.11 – Hyundai Motors hits its first strike in an overseas plant from April 20 to May 7. Almost 700 employees of 10,000 of the Chennai plant in India went to strike after problems between labor unions.

2009.05.11 – Briefly: Government created a new kind of visa to promote medical tourism in Korea; South Korea announced an investment of $802 million to develop mines and oil fields abroad; An OECD study indicated that Korea population’s size has the most increased in the last 20 years; Discussion with Japan regarding the Economic Partnership Agreement will start again since it has been stopped in November 2004.

2009.05.08 – On Sunday the 10th, the French-Korean Chamber of Commerce and Industry will have a booth to present its activities during the “2009 Information Fair” organized by the Seoul Global Center, from 10:00am to 05:00pm at Mugyodong-gil, near the Seoul Financial Center.

2009.05.08 – Korean exporters prefer using US dollar for their international payments at 81.6% in 2008, against only 7.6% for euro, 4.7% for yen and 0.8% for won, indicated the Ministry of Knowledge Economy.

2009.05.08 – Sales of imported cars dropped strongly in April compared to last year, with a decrease of -22.5% to 4,769 units. Exports and imports in IT sector also dropped in April, respectively by -19.5% and -25.2%.

2009.05.08 – Exchange rate between won and dollar reached a year low with 1,263 won for one dollar. The won-euro ratio is around 1,700 won for one euro since few days.

2009.05.08 – Briefly: Number of IP-Phone subscribers increased by 600,000 new people in the first quarter, causing a drop of 480,000 subscribers of normal phone line; Measures to cut taxes on new vehicles are working as visitors in showrooms doubled; A third case of swine flu infection has been detected yesterday in South Korea; The Chosun Ilbo reported that South Korea authorities detected strong activities around a nuclear site in North Korea.

2009.05.07 – Korean government announced that it may stop injecting capital in local bank system. Credits crisis is slowing, then banks are able to auto-protect from now according to officials.

2009.05.07 – South Korea President Lee Myung-Bak met Park Hee-Tae, head of his party, the Grand National Party, to stop the division and promote the unity inside the GNP since they were humiliated in the recent by-elections.

2009.05.07 –Overseas production of Hyundai Motors have for the third time surpassed local production, representing 125,364 units against 117,978 in April.

2009.05.07 – Head of state-run Korea Development Bank (KDB) announced that he was interested in buying the Korea Exchange Bank (KEB) for a new focus on local and foreign investments.

2009.05.07 – Briefly: LED’s market, supporter by the government as an eco-friendly lighting source, is overheated, making analysts asking for more control; Shipbuilding STX group plans to develop its activity to renewable energy; Foreigners owned more land in the first quarter (+1.7%) compared to last quarter; New Seoul Subway Line 9 will open in May 2009.